Location: Granville County, NC | Metro: Raleigh-Cary, NC MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $237,094 | 0.57% | F |
| 3BR | $1,650 | $328,978 | 0.5% | F |
| 4BR | $2,030 | $415,721 | 0.49% | F |
| 5BR | $2,355 | $457,652 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP 27522, located in Creedmoor, NC within the Granville County, NC metro area, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 27522 in fiscal year 2024 is set at $1,370, which exceeds the current market rent of $1,103 by a significant margin. This creates a spread that benefits landlords participating in the Section 8 program, ensuring they receive higher rents compared to the local market rates.
The median home value in ZIP 27522 stands at $343,828, indicating a relatively stable housing market. However, the primary focus for Section 8 landlords should be on the rental income rather than the potential for property appreciation. With a 0.2% price-cut share and an N/A-day Days on Market (DOM), the data suggests limited opportunities for capital appreciation through property value increases.
ZIP 27522 also offers a diversification benefit with a 20.0% renter share, meaning that one-fifth of the residents are likely to be renters. The median income of $77,094 provides a context for the economic stability of the area, although it does not directly impact the cash flow from Section 8 properties. Landlords can rely on a steady stream of tenants who are guaranteed to pay their rent through the voucher program.
In conclusion, ZIP 27522 is best positioned as a cash-flow anchor in a Section 8 portfolio. The guaranteed income from the FMR, which is $267 higher than the market rent, ensures that landlords will see positive cash flow without having to worry about the volatility of market rents. While the area offers some diversification through its renter share, the most compelling reason to include properties here in a Section 8 portfolio is the financial security and predictability it provides, making it a reliable choice for those seeking stable returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.